Whatever one’s opinion on gambling, it cannot be denied that some aspect will be causing a stir somewhere in practically every country in the world. Whether it is a local storm in a teacup or a debate of national proportions, the gambling industry creates controversies. It always has done, and likely always will.

Historically noted for attracting the seedier elements of society, the image is still colouring opinion about today’s industry, and gambling opponents frequently cite a propensity for criminal activities such as money laundering as reasons not to permit gambling. However, gambling is big business and the legitimate industry as a whole can be classed as behaving as ethically as any other, and better than most.

Illegal gambling in countries where the activity is banned benefits only the illegal operators. In many such countries gambling is a substantial part of the black economy and it could be said that by regulating the industry the citizens of the country would be better served. A few years ago it would have been hard to envisage Singapore embracing a casino culture but it, and other Asian countries, have watched as the People’s Republic of China wages war on gambling on the mainland whilst encouraging it on the island enclave of Macau. Macau is a phenomenal success story for the gambling industry and perhaps will prove to have as large an influence in Asia, on the social acceptance of gambling as mainstream entertainment, as Las Vegas has in the United States.

Gaming industry news can range from the intensely serious to the mildly amusing, and at times frankly farcical. Take a recent report that whilst the Knesset in Israel earnestly considers legalizing gambling, slot machines are operating ‘legally’ at 150 establishments under authorization from the Ministry of Finance. The process of the UK Gambling Act this year and the unravelling of the draft bill has been a fund of angry comment and amusement. Bitter battles in the World Trade Organization over online gambling business has left both Antigua and the United States claiming victory but with very little change accomplished. Globally, gambling creates waves even in well-established jurisdictions.

Whether the United States will ever embrace the online gambling industry, or remain vehemently opposed to it, will continue to be a source of discussion, as will the fledgling industry’s entrance into the stock markets of the world. Thailand’s possible referendum on legalizing casinos, Philippine involvement with the so far illegal ‘jeuteng’ market in all segments of its society, Chile’s successful moves to expand gaming, Australian attempts of damage-limitation on its proliferation of ‘pokies,’ just a few of the topics that abound in the gambling arena.

Love it or hate it, gambling is alive and well and living in all the four corners of the earth – either above ground or below. (E-06.24.05)

© Copyright 2005 CasinoCompendium



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